Cambria hotel owners file bankruptcy
June 14, 2010
The owner of the new El Colibri Boutique Hotel and Spa in Cambria filed for Chapter 11 bankruptcy and has plans to sell one of the most sophisticated retreats on the Central Coast. [PacificCoastBusinessTimes]
The Cambria Moonstone development firm filed for bankruptcy protection, listing $9.5 million in liabilities, and has priced the hotel at $8.4 million.
One of the hotels owners, Robert Mueller, told the Pacific Coast Business Times the company plans to emerge from bankruptcy after it restructures its debt and that placing the hotel on the market was just one option for resolving its issues.
Located on Cambria’s picturesque Moonstone Beach, the 34-room hotel’s amenities include fireplaces and deep soaking tubs in each room. It opened six months ago in January.